According to data from AltIndex.com, companies within the Artificial Intelligence (AI) sector have raised almost US$50 billion globally so far this year, marking the second-highest figure in the market’s history.
The global AI industry has witnessed remarkable growth, doubling in size over the past three years to reach a value of US$240 billion and attracting a quarter of a billion users worldwide. This surge has captured significant attention from venture capital investors, who have injected billions into AI companies and startups. Despite a slowdown in VC funding, robust fundraising activity persisted in 2023, making it the second-best year for fundraising in the AI market’s history, trailing behind only 2021.
We believe that AI will disrupt different aspects of life, as represented by various industries. Every day, we search for companies set to make a difference and learn how they plan to achieve that. The results are fascinating. In Asia and beyond, these companies are working to transform how businesses operate with their innovation and impacting the daily lives of average Joes and Janes along the way. Most of us are familiar with big names such as OpenAI, but there is more to AI than that.
This list contains eight of those companies. You might want to keep a close watch on them.
Data.ai
Formerly known as App Annie, Data.ai helps companies develop, grow and optimise their digital business with its unique mobile market data insights.
SensorTower acquired it in March for an undisclosed sum. “The acquisition will allow Sensor Tower to broaden its audience and expand its best-in-class offerings to any company that participates in the digital economy – helping bridge the gap between companies and consumers,” Sensor Tower CEO Oliver Yeh said in a statement as reported by TechCrunch.
Appier
Founded in 2012, Appier is a software-as-a-service (SaaS) company that uses AI to help businesses make decisions. In November 2023, Appier Chief Strategy Officer Joe Chang spoke to Bloomberg about the role of AI and its business strategy.
“What we do is use AI to make predictions to help our customers drive top-line and bottom-line growth. There are measurable, quantifiable results that the customer can see. We also believe that such a solution is more recession-proof in the current economics,” he says.
Fiddler
Fiddler was named in the World Economic Forum’s Technology Pioneers 2020, a list of 100 early to growth-stage companies from around the world pioneering new technologies and innovations.
The US-based company aims to deliver explainable AI with “trust, visibility and insights built-in.”
Shield
With its AI pilot Hivemind, Shield aims to enable swarms of drones and aircraft to operate autonomously without GPS, communications, or a pilot. The goal is to protect service members and civilians with intelligent systems.
In December 2023, the company raised additional funding in Series F, boosting its total amount to US$500 million.
Datadog
US-based Datadog provides an observability service for cloud-scale applications, monitoring servers, databases, tools, and services through a SaaS-based data analytics platform.
According to Forbes, on November 7, the company reported faster-than-expected growth, sending its stock price soaring 28 per cent.
Also Read: Exploring the boundaries of AI: What AI can or cannot do?
DataRobot
With over a decade of experience in AI innovation, DataRobot aims to empower organisations to accelerate AI from idea to impact. It works with clients in healthcare, manufacturing, retail, and financial services. Some top names in its client list include Warner Bros, Tokio Marine KILN, and CAT; the company is also a partner of Microsoft, NVIDIA, and Google Cloud.
Its latest funding round was a US$300 million Series G investment announced in 2021.
Staple
Staple has developed an ML tool that reads, interprets and extracts structured data from documents faster, more accurately and more affordably than any human can at scale.
In April, the company announced that it had raised US$4 million to streamline global document management.
Dataiku
Founded in 2013, Dataiku aims to enable organisations to deploy AI and machine learning for various use cases, including predictive maintenance, supply chain optimisation, quality control in precision engineering and marketing optimisation.
US-based Dataiku raised US$200 million in a Series F funding round led by new backer Wellington Management in December 2022 after securing unicorn status in 2019.
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